Resona Asset Management Co. Ltd. Purchases 4,248 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Expeditors International of Washington by 7.3%, owning 62,214 shares worth approximately $7.47 million as of the latest reporting period.
• A significant majority of the stock (94.02%) is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Research analysts have set a consensus rating of "Hold" for the stock, with an average target price of $114.22, reflecting mixed sentiments among analysts regarding its future performance.

Resona Asset Management Co. Ltd. raised its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,214 shares of the transportation company's stock after buying an additional 4,248 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Expeditors International of Washington were worth $7,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXPD. Mariner LLC boosted its stake in Expeditors International of Washington by 4.4% in the 4th quarter. Mariner LLC now owns 26,738 shares of the transportation company's stock worth $2,962,000 after purchasing an additional 1,121 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Expeditors International of Washington in the fourth quarter valued at $293,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Expeditors International of Washington in the fourth quarter valued at $654,000. NewEdge Advisors LLC boosted its position in shares of Expeditors International of Washington by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 8,236 shares of the transportation company's stock worth $912,000 after buying an additional 214 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Expeditors International of Washington by 4.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 47,718 shares of the transportation company's stock valued at $5,286,000 after buying an additional 2,002 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EXPD shares. TD Cowen reduced their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a research note on Wednesday, May 7th. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Robert W. Baird started coverage on shares of Expeditors International of Washington in a research report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective on the stock. Truist Financial increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Finally, Bank of America lowered shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their target price for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Seven analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Expeditors International of Washington currently has an average rating of "Reduce" and an average target price of $114.22.

Insider Buying and Selling at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the transaction, the vice president directly owned 7,651 shares of the company's stock, valued at $903,200.55. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.69% of the company's stock.

Expeditors International of Washington Stock Performance

Shares of NASDAQ EXPD traded up $1.3450 during mid-day trading on Tuesday, hitting $121.3550. 225,969 shares of the stock were exchanged, compared to its average volume of 1,366,554. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The stock's fifty day simple moving average is $115.85 and its two-hundred day simple moving average is $114.30. The company has a market cap of $16.47 billion, a P/E ratio of 21.22, a PEG ratio of 5.00 and a beta of 1.05.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.